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doctrine of ultra vires
may i know about that topic with good example....
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The Memorandum, being the constitution of the company sets out the principal objectives, powers, scope and its area of operation, both internal and external. A company, therefore, can do anything within the scope of the powers specified in the Memorandum.
The Memorandum, being the constitution of the company sets out the principal objectives, powers, scope and its area of operation, both internal and external. A company, therefore, can do anything within the scope of the powers specified in the Memorandum.
the term ultra vires means beyond the power of the company, anything outside the object clause is void and the ultra vires act doesn't bind the company.please refer the case law of ASHBURY RAILWAY CARRAIGE V/S RICHI .
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